Maravi Express
Airtel Africa, a leading provider of telecommunications and mobile money services in 14 countries across sub-Saharan Africa, celebrates its 10-year anniversary this month.
The anniversary follows another recent milestone for Airtel Africa, when the company was listed on the London and Nigerian stock exchanges, and Malawi branch followed suit on February 24, 2020 by listing on Malawi Stock Exchange.
Airtel Africa CEO Raghunath
Mandava
In reflecting on the past 10 years, Airtel Africa Chief Exective Officer, Raghunath Mandava is quoted as saying in a statement that their vision is to enrich the lives of their customers.
“I want to take this opportunity to thank all our colleagues, partners, suppliers and distributors for their support as we have worked together to deliver on our purpose.
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“In these challenging times, the Airtel Africa team along with our partners are working hard to provide our customers with reliable voice, data and mobile money services,” he is quoted as saying.
According to the statement, Airtel Africa has over the past decade supported social transformation across the continent by enabling millions of people to access data services and be part of the financial system.
Bharti Airtel established its presence in Africa when it acquired Zain Telecom’s Africa operations in June 2010.
“The company has achieved significant growth, reaching more than 110 million customers, bridging the digital divide and increasing financial inclusion,” says the statement.
“Airtel Africa employs more than 3,300 people across Africa, with another 1.6 million people earning through working with Airtel Africa as entrepreneurs and in its distribution network.”
The multinational company says it’s voice, data and mobile money services are driving growth and transforming customers’ lives as it provides voice services to 110.6 million customers, data services to 35.4 million and mobile money services to 18.3 million people.
The company reports that it had a turnover of US$3.4 billion in the last financial year and that over the past decade, it has expanded its network footprint enabling millions of people to access telecoms services and taken the lead in the rollout of robust 4G networks, helping to drive digitalization.
Airtel Malawi MD Charles Kamoto
“The introduction of wireless home broad band has further helped service customers’ evolving needs,” adds the company.
“Airtel Africa’s mobile money services provide customers with exclusive assured float and a growing number of strategic partnerships enable cross-border money transfers.
“Airtel Africa has also launched a virtual card, further boosting financial inclusion.”
After acquiring Bharti Airtel’s African operations of the Zain Group (formerly Mobile Telecommunications Group) in 2010, Airtel Africa inherited 36 million subscribers operating in 15 countries, including 12 of the Group’s current 14-country footprint.
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The Group further expanded its footprint with the acquisition of Telecom Seychelles Limited and in 2012 it launched its greenfield operations in Rwanda.
The Group then expanded its operations in Uganda and in Congo in 2013 through the acquisition of Warid Telecom Uganda and Warid Congo SA from the Warid Group while in 2015 it acquired yuMobile’s subscriber base in Kenya from Essar Telecommunications Kenya.
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In 2016, Airtel Africa completed the sale of its operations in Burkina Faso and Sierra Leone to France-based Orange, to better streamline the Group’s footprint in East Africa.
The Group deconsolidated its operations in Ghana in 2017 upon entering into a joint venture with Millicom International Cellular (which operates under the ‘Tigo’ brand in Ghana — whereby Airtel and Millicom share equal ownership and governance rights in a combined ‘AirtelTigo’ entity.
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Two years ago, the Group acquired the operations of Tigo Rwanda, a subsidiary of Millicom.
Airtel Africa Limited, the Group’s UK holding company, was incorporated and registered as a private company in England and Wales and completed an initial round of pre-IPO funding, raising US$1.25 billion.
Last week, Airtel Malawi Plc — through its chartered accountants Deloitte — announced that it has posted K15.908 billion as profit after tax as at December 31, 2019 which is up by K13.598 from the K2.310 billion it made the previous year.
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According to the financial results, the profit after tax went up mainly due to increase in operating profit and that the previous year’s had one-off impact on reversal of unrealised exchange gain on unpaid liability of Malawi Towers Limited to Airtel Malawi Plc.
The company’s Board has since recommended a final dividend of K1.25 per ordinary share and will be paid after approval at the annual general meeting (AGM) in July 2020 at a date to be determined.
Headquartered in Lilongwe, Airtel Malawi offers 4G/LTE, 2G and 3G wireless networks and high speed fixed broadband internet services.
It also offers the largest mobile commerce service in the country through Airtel Money, which was launched in Malawi in February 2011.